McFarlane Lake Mining Limited to Initiate Environmental Baseline Work on Its High Lake Property

TORONTO, ON / ACCESSWIRE / October 24, 2023 / McFarlane Lake Mining Limited (NEO:MLM)(OTCQB:MLMLF) ("McFarlane Lake" or "McFarlane" or "the Company"), a Canadian gold exploration and development company, today announced that it has initiated environmental baseline studies on its High Lake property to support future permitting efforts.

"The environmental studies at High Lake are an important step in advancing this high potential gold prospect," said Roger Emdin, Chief Operating Officer of McFarlane Lake. "They will help us secure the permits required for future development while also ensuring we establish best practices in environmental stewardship. We look forward to completing this significant milestone."

The environmental studies will begin with surface and groundwater sampling program and a species-at-risk study, followed by a preliminary geochemical characterization work in the new year to determine metals processing impact potential. EAG Inc., a Sudbury-based environmental consultancy, will lead the studies and the design of related technical analysis. EAG staff has over 35 years of experience and has worked with several major and junior mining companies on permitting, regulatory and environmental management projects.

In July 2023, McFarlane Lake filed an NI 43-101 compliant technical report that identified 96,200 Inferred ounces and 45,800 Indicated ounces of gold at a grade of 10.43 grams per tonne of gold and 9.38 grams per tonne of gold, respectively, in the Purdex Zone on the High Lake property.

Table 1: Current Purdex Zone Mineral Resource at 2.6 g/t Au cut-off

Classification	Tonnes (k)	Au (g/t)	Au (k Oz)
Indicated	152	9.38	45.8
Inferred	287	10.43	96.2

Qualified Person

The technical contents of this news release have been reviewed and approved by Robert Kusins, Vice President of Geology of McFarlane. Mr. Kusins is a qualified person, as defined by NI 43-101. However, Mr. Kusins is not independent of the Company by virtue of his position.